Pfizer Inc

Pfizer Inc (New York, NY) and Hospira Inc (Lake Forest, IL) entered into a definitive merger agreement under which Pfizer will acquire Hospira for $90 a share in cash for a total enterprise value of approximately $17 billion. The boards of directors of both companies have unanimously approved the merger. The combination will add a growing revenue stream and a platform for growth for Pfizer’s GEP business. The transaction is subject to customary closing conditions, including regulatory approvals in several jurisdictions and approval of Hospira’s shareholders, and is expected to close in the second half of 2015.